Rhumbline Advisers Reduces Stock Holdings in The Bank of N.T. Butterfield & Son Limited (NYSE:NTB)

Rhumbline Advisers reduced its stake in shares of The Bank of N.T. Butterfield & Son Limited (NYSE:NTB) by 11.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 82,273 shares of the bank’s stock after selling 10,751 shares during the quarter. Rhumbline Advisers owned 0.17% of Bank of N.T. Butterfield & Son worth $3,202,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of NTB. Lazard Asset Management LLC purchased a new stake in Bank of N.T. Butterfield & Son during the 4th quarter worth approximately $72,000. Quarry LP increased its holdings in Bank of N.T. Butterfield & Son by 19.7% during the 4th quarter. Quarry LP now owns 3,069 shares of the bank’s stock worth $112,000 after purchasing an additional 505 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. increased its holdings in Bank of N.T. Butterfield & Son by 164.2% during the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,290 shares of the bank’s stock worth $157,000 after purchasing an additional 2,666 shares during the last quarter. PDT Partners LLC purchased a new stake in Bank of N.T. Butterfield & Son during the 4th quarter worth approximately $217,000. Finally, Raymond James Financial Inc. purchased a new stake in Bank of N.T. Butterfield & Son during the 4th quarter worth approximately $219,000. 62.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods lifted their price objective on Bank of N.T. Butterfield & Son from $44.00 to $48.00 and gave the stock a “market perform” rating in a report on Friday, April 25th.

Bank of N.T. Butterfield & Son Price Performance

Shares of NTB opened at $42.30 on Monday. The firm has a market cap of $2.01 billion, a price-to-earnings ratio of 8.96 and a beta of 0.64. The stock has a 50 day moving average of $40.63 and a 200-day moving average of $38.68. The company has a current ratio of 0.63, a quick ratio of 0.66 and a debt-to-equity ratio of 0.10. The Bank of N.T. Butterfield & Son Limited has a 52 week low of $32.96 and a 52 week high of $43.85.

Bank of N.T. Butterfield & Son (NYSE:NTB) last issued its earnings results on Wednesday, April 23rd. The bank reported $1.30 EPS for the quarter, topping the consensus estimate of $1.03 by $0.27. The company had revenue of $148.20 million during the quarter, compared to analyst estimates of $140.89 million. Bank of N.T. Butterfield & Son had a return on equity of 21.46% and a net margin of 26.51%. The business’s revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.17 EPS. As a group, analysts forecast that The Bank of N.T. Butterfield & Son Limited will post 4.4 EPS for the current year.

Bank of N.T. Butterfield & Son Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 21st. Stockholders of record on Wednesday, May 7th were given a $0.44 dividend. The ex-dividend date of this dividend was Wednesday, May 7th. This represents a $1.76 annualized dividend and a dividend yield of 4.16%. Bank of N.T. Butterfield & Son’s payout ratio is 36.51%.

Bank of N.T. Butterfield & Son Profile

The Bank of N.T. Butterfield & Son Ltd. provides community banking and wealth management business. The firm operates through the following geographical segments: Bermuda, the Cayman Islands, Channel Islands and the UK, and Other. The Bermuda and Cayman segments offer retail banking and wealth management.